Ather Energy, the electric vehicle company backed by Hero MotoCorp, reported a significant increase in losses for the financial year 2022-23. The company's losses surged more than 2.5 times to reach Rs 864.5 crore, compared to Rs 344.1 crore in the previous year. Despite strong sales, Ather's total expenses more than tripled to Rs 2,670.6 crore. The company plans to use the recently raised funds of Rs 900 crore for new product launches and the expansion of its charging infrastructure and retail network. Ather Energy currently has over 200 retail touchpoints and a public fast-charging network across India.